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Homebuying in San Francisco, San Jose, and Seattle Sill Strong Despite Steep Prices

Tight supply has led to higher price growth, especially in the metro areas of San Jose- Sunnyvale-Sta. Clara, Francisco-Oakland-Hayward, and Seattle-Tacoma-Bellevue. Given the steep increase in home prices, an interesting question is whether demand is starting to wane given...

Homebuying Demand Continues to Outpace Supply in Many States in September 2017

In a monthly survey of REALTORS®, respondents are asked “Compared to the same month last year, how would you rate the past month’s traffic in neighborhood(s) or area(s) where you make most of your sales?” Respondents rate buyer traffic...

Home Purchase Originations Rose by 10 Percent in 2016, But are Still Below Pre-Housing Crash Level

Amid improving macroeconomic conditions, residential lending continued to increase in 2016, based on the recently released 2016 Home Mortgage Disclosure Act (HMDA) data. [1] [2] The number of first-lien loan originations for the purchase of one-to-four unit properties intended...

2016 Survey of Consumer Finances Takeaway: Income and Wealth Share of 90 Percent of Families Has Declined in Past 27 Years (1989-2016)

The Federal Reserve Board just released the much anticipated 2016 Survey of Consumer Finances (SCF), a survey conducted every three years that collects information about family incomes, their net worth/wealth, and other financial characteristics of families. The survey shows...

91 Percent of Closed Sales in August 2017 Had Contract Settlement Contingencies

Contract contingencies give the buyer and seller the right to back out of the contract if these conditions (contingencies) are not met. According to a monthly survey of REALTORS®, 91 percent of closed sales in August 2017 had contract...